Corebridge Financial Inc. reduced its position in ITT Inc. (NYSE:ITT - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,226 shares of the conglomerate's stock after selling 4,393 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of ITT worth $13,177,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of ITT by 1.1% in the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate's stock valued at $364,457,000 after buying an additional 26,133 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ITT by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate's stock worth $204,736,000 after purchasing an additional 8,223 shares during the last quarter. Boston Partners grew its position in shares of ITT by 7.0% in the fourth quarter. Boston Partners now owns 930,069 shares of the conglomerate's stock valued at $132,915,000 after purchasing an additional 61,132 shares in the last quarter. Bank of New York Mellon Corp lifted its position in ITT by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate's stock worth $108,817,000 after buying an additional 3,727 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in ITT by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock worth $73,913,000 after buying an additional 3,424 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.
ITT Trading Down 4.1 %
NYSE:ITT traded down $5.50 on Friday, reaching $128.56. 690,723 shares of the company's stock were exchanged, compared to its average volume of 402,616. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. ITT Inc. has a 52-week low of $121.01 and a 52-week high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $142.63 and a 200-day moving average of $146.11.
ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. As a group, analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.
ITT Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change from ITT's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. ITT's dividend payout ratio is presently 22.22%.
Wall Street Analyst Weigh In
ITT has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Citigroup reduced their price target on shares of ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus cut their target price on ITT from $180.00 to $179.00 and set a "buy" rating for the company in a research note on Friday, January 24th. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Finally, Wolfe Research assumed coverage on shares of ITT in a research note on Wednesday, December 11th. They set a "peer perform" rating for the company. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $170.29.
Read Our Latest Report on ITT
ITT Profile
(
Free Report)
ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.
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